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Chiru Labs, the digital asset incubation studio and the parent company behind the Azuki non-fungible token collection, has teamed up with Magic Eden, a multi-chain non-fungible token marketplace, to launch tokenized Satoshi Nakamoto Hoodies. The Azuki phygital NFT hoodies will launched on Ethereum and Bitcoin.
Blue-chip Azuki Taps Magic Eden To Create NFT Hoodies
In a May 22 blog post, Azuki creator Chiru Labs confirmed partnering with Magic Eden to roll out a physical-backed token on Bitcoin and Ethereum blockchain networks. The Azuki x Satoshi Nakamoto Enduro Hoodie will feature a unique dual-chain NFT that will exist simultaneously on BTC and ETH.
We’re bringing the Physical Backed Token (PBT) to Bitcoin.
The Azuki x SATOSHI NAKAMOTO Enduro Hoodie will feature a unique dual-chain NFT, existing simultaneously on both BTC and ETH, developed in collaboration with @MagicEden. pic.twitter.com/38gSCHTiPd
— Azuki (@Azuki) May 22, 2024
Established in 2021, Chiru Labs is a Web3 studio focused on shaping the future of storytelling. The web3 studio builds digital products at the intersection of art, technology, and community. This firm stands as a trailblazer in the exciting world of non-fungible tokens, merging the realms of digital art and blockchain technology.
Chiru Labs is home to popular non-fungible token collections, including Azuki, a collection with a limited edition of 10,000 anime-themed NFTs; Azuki Elemental, a collection with limited set of 20,000 NFTs; and Beanz, a collection with limited supply of 19,950 Ethereum NFTs.
On the other hand, Magic Eden is a leading multi-chain NFT market platform that supports non-fungible tokens on Solana, Ethereum, Polygon, and Bitcoin. Currently, it is the largest and best-known NFT marketplace on the Solana network, where it was originally launched. The platform enables users to create, buy, sell, and collect NFTs.
The Azuki x Satoshi Nakamoto NFT Hoodies Overview
Under the new integration, Azuki and Magic Eden anticipate leveraging their functionalities and experience to create the Azuki x Satoshi Nakamoto hoodies. The Azuki x Satoshi Nakamoto Enduro Hoodie collection will feature a limited edition of 98 hoodies with a unique dual-chain NFT, existing simultaneously on BTC and ETH.
Behind The Beans: Azuki x SATOSHI NAKAMOTO pic.twitter.com/ya9JMHl5qR
— Azuki (@Azuki) May 23, 2024
The Azuki x Satoshi Nakamoto Enduro Hoodie is a Physical-Backed Token (PBT, EIP-5791), which means that owning this NFT will be proof that you own one of the 98 hoodies. For any transfer, each hoodie requires decentralized on-chain verification, flexing of off-chain ownership, and signature from a physical chip embedded inside the hoodie.
In the meantime, the Azuki floor price has reacted slightly to the recent bullish development. Data compiled by CoinGecko.com, an on-chain crypto market aggregator and a multi-chain non-fungible token explorer, the Azuki floor price jumped from 4.49 ETH in early May 22 to 4.64 ETH shortly after the announcement. At the time of writing, the Azuki floor price is consolidating around 4.42 ETH.
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